Which of the Following Is Not True in the Long-Run

question 1

Multiple Choice

Which of the following is not true in the long-run?

• A) There are no variable costs.
• B) There are no fixed costs.
• C) Total costs equal variable costs.
• D) Identical firms will make zero profits.

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Definitions:

Ethylmagnesium Bromide

A Grignard reagent represented as C2H5MgBr, used in organic synthesis to form carbon-carbon bonds.

Aqueous Acid

An acid solution in which water is the solvent, capable of donating protons (H+ ions) in a reaction.

Sample Proportion

The fraction of individuals in a sample with a particular characteristic or trait.

Large-Sample Method

Statistical techniques that assume the sample size is large enough to rely on the normal distribution as an approximation for the distribution of sample statistics.